Paul Krugman just dropped a bombshell in The New York Times! He was reading two new reports on the economics of fighting climate change: a big study by a blue-ribbon international group, the New Climate Economy Project, and a working paper from the International Monetary Fund. He noted, “Both claim that strong measures to limit carbon emissions would have hardly any negative effect on economic growth, and might actually lead to faster growth.”
It has confused many of us when more business oriented friends get upset when we’re saying cheery things about the great progress being made by renewables in the energy market. It’s hard to understand why anyone would be concerned about replacing fossil fuels.
So, for those if you who have wondered about this, too, look at the studies Krugman references. Think about the fear that people have shown as they fight so strenuously to keep the old power. They really believe that losing the oil, gas and coal industries will ruin our economy (and the world’s).
But they are wrong, and so were all the people who thought we couldn’t change from horses to cars. Buggy whips disappeared, but our economy didn’t. In fact, the auto industry that developed helped create a strong new one and boosted GDP.
Thanks to Roger Johnson for this lead. Do you have an idea or suggestion for OGT? Contact Sharon Cameron.
